MIAMI, Fla. – Oct. 22 (SEND2PRESS NEWSWIRE) — Marine Exploration International (MEI) (OTC Pink Sheets: MEXP / MEXP.pk), through its joint-venture partner, Hispaniola Ventures, LLC, now has the benefit of innovative host country legal contracts; they will be used to protect all marine exploration projects.
Through its joint venture and the use of industry-standard setting contracts, MEI sets the standard for protecting its investments.
Unlike other marine exploration companies that have faced recent challenges and seizures, MEI’s partner, Hispaniola Ventures, LLC has applied strict, contractual methodology to protect its investments. Contracts will ensure that the host country’s government will prevent unauthorized persons from interfering with Hispaniola Venture’s search and salvage operations in contracted area(s).
This proprietary protection is granted exclusively to Hispaniola Ventures, and, by contract, the host government represents and warrants that it has good title to all shipwrecks within their territorial and/or jurisdictional waters.
Contracts protect shipwreck efforts from being impeded, impaired, or prevented. If salvage efforts in the territorial waters of the host country are impeded or prevented in anyway due to a dispute by an international body, or country of origin of a salvageable ship, then the host country’s government, at its expense, is solely responsible for resisting such claims and for promptly reimbursing Hispaniola Ventures for any and all of its losses.
Losses include actual cost of every kind as incurred and described in the organization, mobilization, exploration and salvage effort. This is in addition to the appraised value of any salvaged items Hispaniola Ventures may be required to return to the government or to the foreign power that has raised the claim.
Currently, along with joint-venture partner, renowned treasure explorer and salvager Burt Webber, (www.time.com/time/magazine/article/0,9171,920007-1,00.html), the company holds exclusive permits with the government of the Dominican Republic to conduct search and recovery operations on the Silver Bank.
MEI is currently pursuing two primary projects in the Caribbean Sea with over $600,000,000.00 in treasure-salvage contracts. Long Term, MEI has plans to pursue dozens of notable shipwrecks, worldwide.
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information, visit: www.mexp.biz/about-us.html.
News issued by: Marine Exploration, Inc.
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Original Story ID: (3359) :: 2007-10-1022-004
Original Keywords: Marine Exploration Inc, Pink Sheets: MEXP, search and salvage operations, Hispaniola Ventures LLC, shipwreck efforts, MEXP.pk, treasure explorer and salvager Burt Webber, country of origin of a salvageable ship, MEI Marine Exploration, Inc.
News Source: Marine Exploration, Inc.